Clearfield (CLFD) 10-K 22 Nov 16 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2016	Nov. 15, 2016	Mar. 31, 2016
Document Information [Line Items]
Entity Registrant Name	Clearfield, Inc.
Entity Central Index Key	796,505
Trading Symbol	clfd
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		14,126,181
Entity Public Float			$ 180,135,910
Document Type	10-K
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Current Assets
Cash and cash equivalents	$ 28,014,321	$ 18,071,210
Short-term investments	5,527,075	7,925,000
Accounts receivable, net	7,999,210	6,010,900
Inventories	8,373,155	7,182,854
Deferred taxes		1,146,899
Other current assets	1,198,917	416,766
Total current assets	51,112,678	40,753,629
Property, plant and equipment, net	5,780,814	5,689,673
Other Assets
Long-term investments	10,703,000	8,290,000
Goodwill	2,570,511	2,570,511
Other	428,310	323,804
Total other assets	13,701,821	11,184,315
Total Assets	70,595,313	57,627,617
Current Liabilities
Accounts payable	2,573,292	2,357,791
Accrued compensation	4,697,138	2,598,661
Accrued expenses	75,306	80,803
Total current liabilities	7,345,736	5,037,255
Other Liabilities
Deferred taxes	411,779	1,082,887
Deferred rent	243,755	228,345
Total other liabilities	655,534	1,311,232
Total Liabilities	8,001,270	6,348,487
Commitment and Contingencies
Shareholders’ Equity
Preferred stock, $.01 par value; 500 shares; no shares issued or outstanding
Common stock, $ .01 par value; 50,000,000 shares authorized; 14,126,279 and 13,705,658 shares issued and outstanding at September 30, 2016 and 2015, respectively	141,263	137,057
Additional paid-in capital	57,320,515	55,887,850
Retained earnings (accumulated deficit)	5,132,265	(4,745,777)
Total shareholders’ equity	62,594,043	51,279,130
Total Liabilities and Shareholders’ Equity	$ 70,595,313	$ 57,627,617

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2016	Sep. 30, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	500	500
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	14,126,279	13,705,658
Common stock, shares outstanding (in shares)	14,126,279	13,705,658

Statements of Earnings

Statements of Earnings - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 75,287,726	$ 60,323,917	$ 58,045,292
Cost of sales	42,417,478	35,455,964	33,446,526
Gross profit	32,870,248	24,867,953	24,598,766
Operating expenses
Selling, general and administrative	22,138,556	17,816,598	16,080,640
Income from operations	10,731,692	7,051,355	8,518,126
Interest income	157,402	105,891	95,703
Income before income taxes	10,889,094	7,157,246	8,613,829
Income tax expense	2,876,032	2,475,238	3,180,978
Net income	$ 8,013,062	$ 4,682,008	$ 5,432,851
Basic (in dollars per share)	$ 0.60	$ 0.35	$ 0.42
Diluted (in dollars per share)	$ 0.59	$ 0.34	$ 0.40
Basic (in shares)	13,372,579	13,216,010	12,916,273
Diluted (in shares)	13,663,349	13,587,532	13,601,594

Statements of Shareholders' Equ

Statements of Shareholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Sep. 30, 2013	12,974,263
Balance at Sep. 30, 2013	$ 129,743	$ 54,808,929	$ (14,860,636)	$ 40,078,036
Stock-based compensation expense		794,865		794,865
Restricted stock issuance, net (in shares)	305,615
Restricted stock issuance, net	$ 3,056	(3,056)
Employee stock purchase plan (in shares)	17,589
Employee stock purchase plan	$ 176	185,408		185,584
Exercise of stock options, net of shares exchanged for payment (in shares)	471,603
Exercise of stock options, net of shares exchanged for payment	$ 4,716	641,737		646,453
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(26,106)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (261)	(399,368)		(399,629)
Excess tax benefit of stock options exercised		8,474		8,474
Net income			5,432,851	5,432,851
Balance (in shares) at Sep. 30, 2014	13,742,964
Balance at Sep. 30, 2014	$ 137,430	56,036,989	(9,427,785)	46,746,634
Stock-based compensation expense		1,074,727		1,074,727
Restricted stock issuance, net (in shares)	(7,900)
Restricted stock issuance, net	$ (79)	79
Employee stock purchase plan (in shares)	20,216
Employee stock purchase plan	$ 202	211,257		211,459
Exercise of stock options, net of shares exchanged for payment (in shares)	60,011
Exercise of stock options, net of shares exchanged for payment	$ 600	42,506		43,106
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(37,544)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (375)	(638,932)		(639,307)
Excess tax benefit of stock options exercised		9,660		9,660
Net income			4,682,008	4,682,008
Balance (in shares) at Sep. 30, 2015	13,705,658
Balance at Sep. 30, 2015	$ 137,057	55,887,850	(4,745,777)	51,279,130
Repurchase of common stock (in shares)	(72,089)
Repurchase of common stock	$ (721)	(848,436)		(849,157)
Stock-based compensation expense		1,404,899		1,404,899
Restricted stock issuance, net (in shares)	258,266
Restricted stock issuance, net	$ 2,583	(2,583)
Employee stock purchase plan (in shares)	22,318
Employee stock purchase plan	$ 223	254,203		254,426
Exercise of stock options, net of shares exchanged for payment (in shares)	191,853
Exercise of stock options, net of shares exchanged for payment	$ 1,918	546,926		548,844
Tax withholding related to vesting of restricted stock grants and exercise of stock options (in shares)	(24,726)
Tax withholding related to vesting of restricted stock grants and exercise of stock options	$ (247)	(437,290)		(437,537)
Net income			8,013,062	8,013,062
Balance (in shares) at Sep. 30, 2016	14,126,279
Balance at Sep. 30, 2016	$ 141,263	57,320,515	5,132,265	62,594,043
Repurchase of common stock (in shares)	(27,090)
Repurchase of common stock	$ (271)	$ (333,490)		(333,761)
Establishment of deferred tax asset for the adoption of ASU 2016-09			$ 1,864,980	$ 1,864,980

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 8,013,062	$ 4,682,008	$ 5,432,851
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	1,449,202	1,216,083	699,869
Deferred income taxes	2,340,771	2,342,045	3,019,626
Loss on disposal of assets	12,348	23,196	12,809
Stock-based compensation expense	1,404,899	1,074,727	794,865
Changes in operating assets and liabilities:
Accounts receivable, net	(1,988,310)	(983,044)	2,809,687
Inventories	(1,190,301)	(1,792,512)	236,422
Other current assets	(812,811)	121,381	(243,339)
Accounts payable and accrued expenses	2,323,891	164,336	(1,234,039)
Net cash provided by operating activities	11,552,751	6,848,220	11,528,751
Cash flows from investing activities:
Purchases of property, plant and equipment	(1,550,128)	(4,518,782)	(1,418,461)
Purchase of investments	(8,138,075)	(10,374,000)	(8,899,000)
Proceeds from sale of property and equipment	729	79,936	40,908
Patent additions	(77,138)	(24,418)	(36,544)
Sale of investments	8,123,000	9,093,000	6,727,000
Net cash used in investing activities	(1,641,612)	(5,744,264)	(3,586,097)
Cash flows from financing activities:
Repurchase of common stock	(333,761)	(849,157)
Proceeds from issuance of common stock under employee stock purchase plan	254,426	211,459	185,584
Proceeds from issuance of common stock	548,844	43,106	646,453
Excess tax benefit from exercise of stock options		9,660	8,474
Tax withholding related to vesting of restricted stock grants and exercise of stock options	(437,537)	(639,307)	(399,629)
Net cash provided by (used in) financing activities	31,972	(1,224,239)	440,882
Increase (decrease) in cash and cash equivalents	9,943,111	(120,283)	8,383,536
Cash and cash equivalents at beginning of year	18,071,210	18,191,493	9,807,957
Cash and cash equivalents at end of year	28,014,321	18,071,210	18,191,493
Supplemental cash flow information
Cash paid during the year for income taxes, net of refunds	1,130,930	50,850	361,284
Non-cash financing activities
Cashless exercise of stock options	853,033	207,738	297,883
Establishment of deferred tax asset for the adoption of ASU 2016-09	$ 1,864,980

Note A - Summary of Significant

Note A - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business: Revenue Recognition: Cash and Cash Equivalents: The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. Investments: September 30, 2016 September 30, 2015 Less than one year $ 5,527,075 $ 7,925,000 1-3 years 10,703,000 8,290,000 Total $ 16,230,075 $ 16,215,000 Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2016, 2015 and 2014 is as follows: Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2016 $ 79,473 $ 25,000 $ (11,000 ) $ 93,473 September 30, 2015 97,950 - (18,477 ) 79,473 September 30, 2014 97,950 - - 97,950 Fair Value of Financial Instruments: Inventories: September 30, September 30, Raw materials $ 5,702,762 $ 4,811,993 Work-in-process 471,305 310,149 Finished goods 2,199,088 2,060,712 Inventories $ 8,373,155 $ 7,182,854 Inventory is stated at the lower of cost or market. On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. Any identified excess, slow moving, and obsolete inventory is written down to its market value through a charge to cost of sales. It is possible that additional inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly or if new products are not accepted by the market. Property, Plant and Equipment: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, September 30, Manufacturing Equipment $ 4,585,422 $ 4,102,868 Office Equipment 3,513,002 2,655,088 Leasehold Improvements 2,422,669 2,414,133 Vehicles 193,702 193,702 Property, plant and equipment, gross 10,714,795 9,365,791 Less accumulated depreciation 4,933,981 3,676,118 Property, plant and equipment, net $ 5,780,814 $ 5,689,673 Depreciation expense for the years ended September 30, 2016, 2015 and 2014 were $1,445,910, $1,214,512 and $699,306, respectively. Goodwill and Patents: A significant reduction in our market capitalization or in the carrying amount of net assets of a reporting unit could result in an impairment charge. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all of the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No impairment of goodwill has occurred during the years ended September 30, 2016, 2015 or 2014, respectively. The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2016, the Company has nine patents granted and eight pending applications inside the United States. Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No impairment of long-lived assets has occurred during the years ended September 30, 2016, 2015 and 2014. Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2016, the Company does not have any unrecognized tax benefits. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We do not expect any material changes in our unrecognized tax benefits over the next 12 months. Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods. Research and Development Costs Advertising Costs Net Income Per Share: Year ended September 30, 2016 2015 2014 Net income $ 8,013,062 $ 4,682,008 $ 5,432,851 Weighted average common shares 13,372,579 13,216,010 12,916,273 Dilutive potential common shares 290,770 371,522 685,321 Weighted average dilutive common shares outstanding 13,663,349 13,587,532 13,601,594 Earnings per share: Basic $ 0.60 $ 0.35 $ 0.42 Diluted $ 0.59 $ 0.34 $ 0.40 There were no potentially dilutive shares excluded from the calculation above for the years ended September 30, 2016, 2015 and 2014. Use of Estimates: Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, Revenue from Contracts with Customers In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory after December 15, 2016, including interim periods within those fiscal years. The new guidance should be applied prospectively, and earlier application is permitted as of the beginning of an interim or annual reporting period. Although the Company has not completed a full impact assessment of this guidance, we do not believe it will have a material impact on reported inventory amounts. In February 2016, the FASB issued ASU 2016-02, Leases

Note B - Commitments and Facili

Note B - Commitments and Facilities	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE B – COMMITMENTS AND FACILITIES Operating Leases: As of September 30, 2016, the future minimum lease payments required under operating lease agreements are as follows: Year ending September 30 Operating leases 2017 $ 442,070 2018 373,409 2019 382,746 2020 392,318 2021 402,123 Thereafter 1,449,994 Total minimum lease payments $ 3,442,660 Share Repurchase:

Note C - Shareholders' Equity

Note C - Shareholders' Equity	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE C – SHAREHOLDERS’ EQUITY The Board of Directors may, by resolution, establish from the undesignated shares different classes or series of shares and may fix the relative rights and preferences of shares in any class or series. The Company is authorized to issue 500 shares of preferred stock and 50,000,000 shares of common stock at $.01 par value. The Company has not issued any shares of preferred stock. Stock-Based Compensation: The Company has two equity compensation plans which are used as an incentive for directors, officers, and other employees. The director’s plan was terminated in February of 2010 and 67,500 authorized but unissued shares were removed from the plan. The employee plan has 95,848 shares available for issue as of September 30, 2016. As of September 30, 2016, $7,434,060 of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a period of approximately 8.1 years. The Company recorded related compensation expense for the years ended September 30, 2016, 2015, and 2014 of $1,404,899, $1,074,727, and $794,865, respectively. For the year ended September 30, 2016, $1,272,656 of this expense was included in selling, general and administrative expense and $132,243 was included in cost of sales. For the years ended September 30, 2015 and 2014, all of this expense was included in selling, general and administrative expense. Stock Options: Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three to five-year period. The maximum contractual term is normally six years. However, options granted to directors have a one year vesting period and a six year contractual term. Shares issued upon exercise of a stock option are new shares. There were no options vested during the year ended September 30, 2016. The number of options vested during the year ended September 30, 2015 was 59,090 with a total grant date fair value of $373,271 and a weighted average grant date fair value of $6.32. For the year ended September 30, 2016, there were 152,484 stock options that were exercised using a cashless method of exercise. For the year ended September 30, 2015, there were 56,767 stock options that were exercised using a cashless method of exercise. The intrinsic value of options exercised during the years ended September 30, 2016 and 2015 was $2,644,220 and $876,841, respectively. The intrinsic value of options exercisable as of September 30, 2016 is $858,771. Option transactions under these plans during the years ended September 30, 2016 and 2015 are summarized as follows: Number of shares Weighted average exercise price Weighted average fair value Outstanding at September 30, 2014 373,051 $ 4.93 Granted - - - Cancelled or Forfeited (2,500 ) 6.36 Exercised (73,167 ) 3.43 Outstanding at September 30, 2015 297,384 5.29 Granted - - - Cancelled or Forfeited - - Exercised (242,584 ) 5.78 Outstanding at September 30, 2016 54,800 $ 3.13 The following table summarizes information concerning options exercisable under the equity compensation plans: Year ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price September 30, 2016 54,800 2.83 $ 3.13 September 30, 2015 297,384 1.57 $ 5.29 The following table summarizes information concerning options currently outstanding at: Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value September 30, 2016 54,800 2.83 $ 3.13 $ 858,771 September 30, 2015 297,384 1.57 $ 5.29 $ 2,420,521 Restricted Stock: Restricted stock transactions during the years ended September 30, 2016 and 2015 are summarized as follows: Number of shares Weighted average grant date fair value Unvested shares at September 30, 2014 518,515 $ 10.02 Granted 7,300 13.69 Vested (101,485 ) 17.07 Forfeited (15,200 ) 10.80 Unvested shares at September 30, 2015 409,130 9.97 Granted 269,173 17.43 Vested (103,826 ) 7.99 Forfeited (10,907 ) 12.99 Unvested shares at September 30, 2016 563,570 $ 14.26 The Company repurchased a total of 19,072 shares of our common stock at an average price of $17.97 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2016. The Company repurchased a total of 33,896 shares of our common stock at an average price of $16.89 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2015. Employee Stock Purchase Plan: of each stock purchase period or phase. The Stock Plan is carried out in six-month phases, with phases beginning on July 1 and January 1 of each calendar year. For the phases that ended on December 31, 2015 and June 30, 2016, employees purchased 10,352 and 11,966 shares, respectively, at a price of $11.40 per share. For the phases that ended on December 31, 2014 and June 30, 2015, employees purchased 10,097 and 10,119 shares, respectively, at a price of $10.46 per share. As of September 30, 2016, the Company has withheld approximately $90,054 from employees participating in the phase that began on July 1, 2016. After the employee purchase on June 30, 2016, 143,122 shares of common stock were available for future purchase under the Stock Plan.

Note D - Income Taxes

Note D - Income Taxes	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE D – INCOME TAXES In March 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting Statements of earnings Statements of cash flows Statements of shareholders’ equity In recording stock-based compensation expense, the new standard allows companies to make a policy election as to whether they will include an estimate of awards expected to be forfeited or whether they will account for forfeitures as they occur. We have elected to include an estimate of forfeitures in the computation of our stock-based compensation expense. As this treatment is consistent with the Company’s previous practice, this election had no impact on our financial statements. The new standard requires that employee taxes paid when an employer withholds shares for tax-withholding purposes be reported as financing activities in the consolidated statements of cash flows. As this treatment is consistent with the Company’s previous practice, this election had no impact on our consolidated financial statements. Realization of net operating loss carry-forward and other deferred tax temporary differences are contingent upon future taxable earnings. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding its recoverability. As of September 30, 2015, the Company’s remaining valuation allowance of approximately $659,000 related to state net operating loss carry forwards. During the fourth quarter of 2016, the Company reversed approximately $337,000 of its remaining valuation allowance. Approximately $259,000 of the change related to the expiration and utilization of state net operating losses in 2016. The remaining decrease of $78,000 is related to higher future year expected NOL utilization due to updated profitability estimates. The remaining valuation allowance balance as of September 30, 2016 of $322,000 relates entirely to state net operating loss carry forwards we do not expect to utilize. The Company will continue to assess the assumptions used to determine the amount of our valuation allowance and may adjust the valuation allowance in future periods based on changes in assumptions of estimated future income and other factors. If the valuation allowance is reduced, we would record an income tax benefit in the period the valuation allowance is reduced. If the valuation allowance is increased, we would record additional income tax expense. The valuation allowance activity for the years ended September 30, 2016, 2015 and 2014 is as follows: Year Ended Balance at Beginning of Year Income Tax Benefit Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2016 $ 658,808 $ (78,044 ) $ (258,360 ) $ 322,404 September 30, 2015 847,826 (53,836 ) (135,182 ) 658,808 September 30, 2014 975,258 - (127,432 ) 847,826 Significant components of deferred income tax assets and liabilities are as follows at: September 30, September 30, Current deferred income tax assets (liabilities): Inventories $ - $ 309,791 Accrued expenses and reserves - 261,452 Prepaid expenses - (42,304 ) Net operating loss carry forwards and credits - 652,533 - 1,181,472 Valuation allowance - (34,573 ) Net current deferred tax asset $ - $ 1,146,899 Long-term deferred income tax assets (liabilities): Intangibles $ (67,450 ) $ (39,819 ) Property and equipment depreciation (815,374 ) (726,035 ) Net operating loss carry forwards and credits 702,113 938,168 Stock-based compensation 221,905 49,926 Inventories 388,292 - Prepaid expenses (44,511 ) - Accrued expenses and reserves 312,227 25,887 Goodwill (786,577 ) (706,779 ) (89,375 ) (458,652 ) Valuation allowance (322,404 ) (624,235 ) Net long-term deferred tax liability $ (411,779 ) $ (1,082,887 ) As of September 30, 2016 and 2015, the current income tax receivable was approximately $643,000 and $48,000, respectively. Current income tax receivable amounts are included in Other Current Assets in the Company’s balance sheets. During the quarter ended December 31, 2015, the Company early adopted ASU 2015-17 to present balance sheet classification of deferred income taxes as noncurrent. This adoption was applied prospectively and therefore, prior periods were not retrospectively adjusted. As of September 30, 2016, the Company had no U.S. federal net operating loss (“NOL”) carry-forwards and approximately $9,283,000 state NOLs. The U.S. federal NOL carry forward amounts were fully utilized in the current year. The state NOL carry forward amounts expire in fiscal years 2017 through 2022 if not utilized. The Company completed an Internal Revenue Code Section 382 analysis of the loss carry forwards in 2009 and determined then that all of the Company’s loss carry forwards are utilizable and not restricted under Section 382. The Company has not updated its Section 382 analysis subsequent to 2009 and does not believe there have been any events subsequent to 2009 that would impact the analysis. Under ASU No. 2016-09, an entity recognizes all excess tax benefits and tax deficiencies relating to stock-based compensation as income tax expense or benefit in the statement of earnings. This change eliminates the notion of the “APIC” pool and related prior year disclosures for excess tax deductions not reflected in the Company’s deferred tax asset presentation. The following is a reconciliation of the federal statutory income tax rate to the consolidated effective tax rate as a percent of pre-tax income for the following years ended: September 30, September 30, September 30, Federal statutory rate 34 % 34 % 34 % State income taxes 1 % 1 % 1 % Permanent differences - 1 % 2 % Change in valuation allowance (3 %) (3 %) (1 %) Expiration of state NOL’s 2 % 2 % 1 % Research and development credits (1 %) - - Excess tax benefits from stock-based compensation (adoption of ASU 2016-09) (7 %) - - Tax rate 26 % 35 % 37 % Components of the income tax expense are as follows for the years ended: September 30, September 30, September 30, Current: Federal $ 428,638 $ 67,373 $ 115,049 State 106,623 65,820 46,303 535,261 133,193 161,352 Deferred: Federal 2,434,294 2,377,590 2,903,110 State (93,523 ) (35,545 ) 116,516 2,340,771 2,342,045 3,019,626 Income tax expense $ 2,876,032 $ 2,475,238 $ 3,180,978 The Company is required to recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company applies the interpretation to all tax positions for which the statute of limitations remained open. The Company had no liability for unrecognized tax benefits and did not recognize any interest or penalties during the years ended September 30, 2016, 2015, or 2014. The Company is subject to income taxes in the U.S. federal jurisdiction, and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal, state and local, income tax examinations by tax authorities for fiscal years ending prior to 2001. We are generally subject to U.S. federal and state tax examinations for all tax years since 2000 due to our net operating loss carryforwards and the utilization of the carryforwards in years still open under statute. The Company changed its fiscal year end in 2007 from March 31 to September 30.

Note E - Concentrations

Note E - Concentrations	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE E – CONCENTRATIONS Suppliers: Customers: The following table summarizes customers comprising 10% or more of net sales for the years ended September 30, 2016, 2015, and 2014: Year Ended September 30, 2016 2015 2014 Customer A 21 % 25 % 19 % Customer B 16 % * * Customer C * * 21 % * Less than 10% As of September 30, 2016, Customers A and B accounted for 18% and 12% of accounts receivable, respectively. As of September 30, 2015, Customers A and B accounted for 14% and 17% of accounts receivable, respectively. Customers A and B are both distributors. Customer C is an Alternative Carrier.

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE F – EMPLOYEE BENEFIT PLAN The Company maintains a contributory 401(k) profit sharing benefit plan, whereby eligible employees may contribute a portion of their earnings, not to exceed annual amounts allowed under the Internal Revenue Code. For the year ended September 30, 2014 and through December 31, 2014, the Company matched 100% of the first 3% and 50% of the next 2% of the participant’s eligible compensation that was contributed by the participant. Effective January 1, 2015, the Company matched 100% of the first 3% and 50% of the next 3% of the participant’s eligible compensation that was contributed by the participant. The Company’s contributions under this plan were $520,530, $460,868 and $379,630 for the years ended September 30, 2016, 2015 and 2014, respectively .

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: The Company maintains cash balances at several financial institutions, and at times, such balances exceed insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.
Investment, Policy [Policy Text Block]	Investments: September 30, 2016 September 30, 2015 Less than one year $ 5,527,075 $ 7,925,000 1-3 years 10,703,000 8,290,000 Total $ 16,230,075 $ 16,215,000
Receivables, Policy [Policy Text Block]	Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2016, 2015 and 2014 is as follows: Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2016 $ 79,473 $ 25,000 $ (11,000 ) $ 93,473 September 30, 2015 97,950 - (18,477 ) 79,473 September 30, 2014 97,950 - - 97,950
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments:
Inventory, Policy [Policy Text Block]	Inventories: September 30, September 30, Raw materials $ 5,702,762 $ 4,811,993 Work-in-process 471,305 310,149 Finished goods 2,199,088 2,060,712 Inventories $ 8,373,155 $ 7,182,854 Inventory is stated at the lower of cost or market. On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. Any identified excess, slow moving, and obsolete inventory is written down to its market value through a charge to cost of sales. It is possible that additional inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly or if new products are not accepted by the market.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment: Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: September 30, September 30, Manufacturing Equipment $ 4,585,422 $ 4,102,868 Office Equipment 3,513,002 2,655,088 Leasehold Improvements 2,422,669 2,414,133 Vehicles 193,702 193,702 Property, plant and equipment, gross 10,714,795 9,365,791 Less accumulated depreciation 4,933,981 3,676,118 Property, plant and equipment, net $ 5,780,814 $ 5,689,673 Depreciation expense for the years ended September 30, 2016, 2015 and 2014 were $1,445,910, $1,214,512 and $699,306, respectively.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Patents: A significant reduction in our market capitalization or in the carrying amount of net assets of a reporting unit could result in an impairment charge. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all of the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No impairment of goodwill has occurred during the years ended September 30, 2016, 2015 or 2014, respectively. The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2016, the Company has nine patents granted and eight pending applications inside the United States.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No impairment of long-lived assets has occurred during the years ended September 30, 2016, 2015 and 2014.
Income Tax, Policy [Policy Text Block]	Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2016, the Company does not have any unrecognized tax benefits. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We do not expect any material changes in our unrecognized tax benefits over the next 12 months.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs
Advertising Costs, Policy [Policy Text Block]	Advertising Costs
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Share: Year ended September 30, 2016 2015 2014 Net income $ 8,013,062 $ 4,682,008 $ 5,432,851 Weighted average common shares 13,372,579 13,216,010 12,916,273 Dilutive potential common shares 290,770 371,522 685,321 Weighted average dilutive common shares outstanding 13,663,349 13,587,532 13,601,594 Earnings per share: Basic $ 0.60 $ 0.35 $ 0.42 Diluted $ 0.59 $ 0.34 $ 0.40 There were no potentially dilutive shares excluded from the calculation above for the years ended September 30, 2016, 2015 and 2014.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance creating Accounting Standards Codification (“ASC”) Section 606, Revenue from Contracts with Customers In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) Related to Simplifying the Measurement of Inventory after December 15, 2016, including interim periods within those fiscal years. The new guidance should be applied prospectively, and earlier application is permitted as of the beginning of an interim or annual reporting period. Although the Company has not completed a full impact assessment of this guidance, we do not believe it will have a material impact on reported inventory amounts. In February 2016, the FASB issued ASU 2016-02, Leases

Note A - Summary of Significa14

Note A - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2016
Useful Lives [Member]
Notes Tables
Property, Plant and Equipment [Table Text Block]	Years Equipment 3 - 7 Leasehold improvements 7 - 10 or life of lease Vehicles 3
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, 2016 September 30, 2015 Less than one year $ 5,527,075 $ 7,925,000 1-3 years 10,703,000 8,290,000 Total $ 16,230,075 $ 16,215,000
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Year Ended Balance at Beginning of Year Additions Charged to Costs and Expenses Less Write-offs Balance at End of Year September 30, 2016 $ 79,473 $ 25,000 $ (11,000 ) $ 93,473 September 30, 2015 97,950 - (18,477 ) 79,473 September 30, 2014 97,950 - - 97,950
Schedule of Inventory, Current [Table Text Block]	September 30, September 30, Raw materials $ 5,702,762 $ 4,811,993 Work-in-process 471,305 310,149 Finished goods 2,199,088 2,060,712 Inventories $ 8,373,155 $ 7,182,854
Property, Plant and Equipment [Table Text Block]	September 30, September 30, Manufacturing Equipment $ 4,585,422 $ 4,102,868 Office Equipment 3,513,002 2,655,088 Leasehold Improvements 2,422,669 2,414,133 Vehicles 193,702 193,702 Property, plant and equipment, gross 10,714,795 9,365,791 Less accumulated depreciation 4,933,981 3,676,118 Property, plant and equipment, net $ 5,780,814 $ 5,689,673
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, 2016 2015 2014 Net income $ 8,013,062 $ 4,682,008 $ 5,432,851 Weighted average common shares 13,372,579 13,216,010 12,916,273 Dilutive potential common shares 290,770 371,522 685,321 Weighted average dilutive common shares outstanding 13,663,349 13,587,532 13,601,594 Earnings per share: Basic $ 0.60 $ 0.35 $ 0.42 Diluted $ 0.59 $ 0.34 $ 0.40

Note B - Commitments and Faci15

Note B - Commitments and Facilities (Tables)	12 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year ending September 30 Operating leases 2017 $ 442,070 2018 373,409 2019 382,746 2020 392,318 2021 402,123 Thereafter 1,449,994 Total minimum lease payments $ 3,442,660

Note C - Shareholders' Equity (

Note C - Shareholders' Equity (Tables)	12 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average fair value Outstanding at September 30, 2014 373,051 $ 4.93 Granted - - - Cancelled or Forfeited (2,500 ) 6.36 Exercised (73,167 ) 3.43 Outstanding at September 30, 2015 297,384 5.29 Granted - - - Cancelled or Forfeited - - Exercised (242,584 ) 5.78 Outstanding at September 30, 2016 54,800 $ 3.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	Year ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price September 30, 2016 54,800 2.83 $ 3.13 September 30, 2015 297,384 1.57 $ 5.29
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value September 30, 2016 54,800 2.83 $ 3.13 $ 858,771 September 30, 2015 297,384 1.57 $ 5.29 $ 2,420,521
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of shares Weighted average grant date fair value Unvested shares at September 30, 2014 518,515 $ 10.02 Granted 7,300 13.69 Vested (101,485 ) 17.07 Forfeited (15,200 ) 10.80 Unvested shares at September 30, 2015 409,130 9.97 Granted 269,173 17.43 Vested (103,826 ) 7.99 Forfeited (10,907 ) 12.99 Unvested shares at September 30, 2016 563,570 $ 14.26

Note D - Income Taxes (Tables)

Note D - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2016
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Year Ended Balance at Beginning of Year Income Tax Benefit Reversal for State NOL Expiration and Utilization Balance at End of Year September 30, 2016 $ 658,808 $ (78,044 ) $ (258,360 ) $ 322,404 September 30, 2015 847,826 (53,836 ) (135,182 ) 658,808 September 30, 2014 975,258 - (127,432 ) 847,826
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, Current deferred income tax assets (liabilities): Inventories $ - $ 309,791 Accrued expenses and reserves - 261,452 Prepaid expenses - (42,304 ) Net operating loss carry forwards and credits - 652,533 - 1,181,472 Valuation allowance - (34,573 ) Net current deferred tax asset $ - $ 1,146,899 Long-term deferred income tax assets (liabilities): Intangibles $ (67,450 ) $ (39,819 ) Property and equipment depreciation (815,374 ) (726,035 ) Net operating loss carry forwards and credits 702,113 938,168 Stock-based compensation 221,905 49,926 Inventories 388,292 - Prepaid expenses (44,511 ) - Accrued expenses and reserves 312,227 25,887 Goodwill (786,577 ) (706,779 ) (89,375 ) (458,652 ) Valuation allowance (322,404 ) (624,235 ) Net long-term deferred tax liability $ (411,779 ) $ (1,082,887 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	September 30, September 30, September 30, Federal statutory rate 34 % 34 % 34 % State income taxes 1 % 1 % 1 % Permanent differences - 1 % 2 % Change in valuation allowance (3 %) (3 %) (1 %) Expiration of state NOL’s 2 % 2 % 1 % Research and development credits (1 %) - - Excess tax benefits from stock-based compensation (adoption of ASU 2016-09) (7 %) - - Tax rate 26 % 35 % 37 %
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, Current: Federal $ 428,638 $ 67,373 $ 115,049 State 106,623 65,820 46,303 535,261 133,193 161,352 Deferred: Federal 2,434,294 2,377,590 2,903,110 State (93,523 ) (35,545 ) 116,516 2,340,771 2,342,045 3,019,626 Income tax expense $ 2,876,032 $ 2,475,238 $ 3,180,978

Note E - Concentrations (Tables

Note E - Concentrations (Tables)	12 Months Ended
	Sep. 30, 2016
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Year Ended September 30, 2016 2015 2014 Customer A 21 % 25 % 19 % Customer B 16 % * * Customer C * * 21 %

Note A - Summary of Significa19

Note A - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)shares
Maximum [Member] | Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years
Goodwill, Impairment Loss	$ 0	$ 0	$ 0
Impairment of Long-Lived Assets Held-for-use	0	0	0
Unrecognized Tax Benefits	$ 0	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	0	0	0
Depreciation	$ 1,445,910	$ 1,214,512	$ 699,306
Number of Reportable Segments	1
Number of Patents Granted	9
Number of Patents Pending	8
Research and Development Expense	$ 838,122	750,107	703,693
Advertising Expense	$ 350,399	$ 284,093	$ 238,026

Note A - Summary of Significa20

Note A - Summary of Significant Accounting Policies - Maturity Date of CDs (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Less than one year	$ 5,527,075	$ 7,925,000
1-3 years	10,703,000	8,290,000
Total	$ 16,230,075	$ 16,215,000

Note A - Summary of Significa21

Note A - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Balance at Beginning of Year	$ 79,473	$ 97,950	$ 97,950
Additions Charged to Costs and Expenses	25,000
Less Write-offs	(11,000)	(18,477)
Balance at End of Year	$ 93,473	$ 79,473	$ 97,950

Note A - Summary of Significa22

Note A - Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Raw materials	$ 5,702,762	$ 4,811,993
Work-in-process	471,305	310,149
Finished goods	2,199,088	2,060,712
Inventories	$ 8,373,155	$ 7,182,854

Note A - Summary of Significa23

Note A - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	12 Months Ended
	Sep. 30, 2016
Equipment [Member] | Minimum [Member]
Property, plant and equipment useful life	3 years
Equipment [Member] | Maximum [Member]
Property, plant and equipment useful life	7 years
Leasehold Improvements [Member] | Minimum [Member]
Property, plant and equipment useful life	7 years
Leasehold Improvements [Member] | Maximum [Member]
Property, plant and equipment useful life	10 years
Vehicles [Member]
Property, plant and equipment useful life	3 years

Note A - Summary of Significa24

Note A - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Machinery and Equipment [Member]
Fixed Assets	$ 4,585,422	$ 4,102,868
Office Equipment [Member]
Fixed Assets	3,513,002	2,655,088
Leasehold Improvements [Member]
Fixed Assets	2,422,669	2,414,133
Vehicles [Member]
Fixed Assets	193,702	193,702
Fixed Assets	10,714,795	9,365,791
Less accumulated depreciation	4,933,981	3,676,118
Property, plant and equipment, net	$ 5,780,814	$ 5,689,673

Note A - Summary of Significa25

Note A - Summary of Significant Accounting Policies - Weighted Average Common Shares Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 8,013,062	$ 4,682,008	$ 5,432,851
Weighted average common shares (in shares)	13,372,579	13,216,010	12,916,273
Dilutive potential common shares	$ 290,770	$ 371,522	$ 685,321
Weighted average dilutive common shares outstanding (in shares)	13,663,349	13,587,532	13,601,594
Earnings per share:
Basic (in dollars per share)	$ 0.60	$ 0.35	$ 0.42
Diluted (in dollars per share)	$ 0.59	$ 0.34	$ 0.40

Note B - Commitments and Faci26

Note B - Commitments and Facilities (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Nov. 13, 2014
Operating Leases, Rent Expense	$ 658,000	$ 630,000	$ 505,000
Stock Repurchase Program, Authorized Amount				$ 8,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 6,817,082

Note B - Commitments and Faci27

Note B - Commitments and Facilities - Future Minimum Lease Payments (Details)	Sep. 30, 2016USD ($)
2,017	$ 442,070
2,018	373,409
2,019	382,746
2,020	392,318
2,021	402,123
Thereafter	1,449,994
Total minimum lease payments	$ 3,442,660

Note C - Shareholders' Equity28

Note C - Shareholders' Equity (Details Textual) - USD ($)	3 Months Ended				9 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Feb. 28, 2010
Maximum [Member] | Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						10 years
Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						5 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						6 years
Minimum [Member] | Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Minimum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price	$ 11.40	$ 11.40	$ 10.46	$ 10.46
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					143,122	143,122
Share-based Compensation Arrangement by Share-based Payment Award, Market Price Percentage, Offering Date						85.00%
Stock Issued During Period, Shares, Employee Stock Purchase Plans	11,966	10,352	10,119	10,097
Payments Related to Tax Withholding for Share-based Compensation						$ 90,054
Employee Stock Option [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						1 year
Cashless Method Stock Option Exercised [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						152,484	56,767
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense						$ 1,272,656	$ 1,074,727	$ 794,865
Cost of Sales [Member]
Allocated Share-based Compensation Expense						$ 132,243
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						6 years
Preferred Stock, Shares Issued					0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term						2 years 302 days	1 year 208 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number					0	0	59,090
Preferred Stock, Shares Authorized					500	500	500
Common Stock, Shares Authorized					50,000,000	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share					$ 0.01	$ 0.01	$ 0.01
Temporary Equity, Shares Subscribed but Unissued									67,500
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					95,848	95,848
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized					$ 7,434,060	$ 7,434,060
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						8 years 36 days
Allocated Share-based Compensation Expense						$ 1,404,899
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value							$ 373,271
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price							$ 6.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						(242,584)	73,167
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value						$ 2,644,220	$ 876,841
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value					$ 858,771	$ 858,771
Stock Repurchased During Period, Shares						19,072	33,896
Treasury Stock Acquired, Average Cost Per Share						$ 17.97	$ 16.89
Payments Related to Tax Withholding for Share-based Compensation						$ 437,537	$ 639,307	$ 399,629

Note C - Shareholders' Equity -

Note C - Shareholders' Equity - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Options, outstanding (in shares)	297,384	373,051
Weighted-average exercise price, outstanding (in dollars per share)	$ 5.29	$ 4.93
Cancelled or Forfeited (in shares)		(2,500)
Weighted-average exercise price, Cancelled or Forfeited (in dollars per share)		$ 6.36
Exercised (in shares)	242,584	(73,167)
Weighted-average exercise price, Exercised (in dollars per share)	$ 5.78	$ 3.43
Options, outstanding (in shares)	54,800	297,384
Weighted-average exercise price, outstanding (in dollars per share)	$ 3.13	$ 5.29
Exercised (in shares)	(242,584)	73,167
Weighted-average exercise price, Exercised (in dollars per share)	$ 5.78	$ 3.43

Note C - Shareholders' Equity30

Note C - Shareholders' Equity - Options Exercisable (Details) - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Exercisable (in shares)	54,800	297,384
Weighted average remaining contractual life	2 years 302 days	1 year 208 days
Weighted average exercise price (in dollars per share)	$ 3.13	$ 5.29

Note C - Shareholders' Equity31

Note C - Shareholders' Equity - Options Currently Outstanding (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Sep. 30, 2014
Number outstanding (in shares)	54,800	297,384		373,051
Weighted average remaining contractual life	2 years 302 days	1 year 208 days
Weighted average exercise price (in dollars per share)	$ 3.13	$ 5.29	$ 5.29	$ 4.93
Aggregate intrinsic value	$ 858,771	$ 2,420,521

Note C - Shareholders' Equity32

Note C - Shareholders' Equity - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Balance, unvested shares (in shares)	409,130	518,515
Balance, weighted-average grant date fair value (in dollars per share)	$ 9.97	$ 10.02
Granted (in shares)	269,173	7,300
Granted (in dollars per share)	$ 17.43	$ 13.69
Vested (in shares)	(103,826)	(101,485)
Vested (in dollars per share)	$ 7.99	$ 17.07
Forfeited (in shares)	(10,907)	(15,200)
Forfeited (in dollars per share)	$ 12.99	$ 10.80
Balance, unvested shares (in shares)	563,570	409,130
Balance, weighted-average grant date fair value (in dollars per share)	$ 14.26	$ 9.97

Note D - Income Taxes (Details

Note D - Income Taxes (Details Textual)	3 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 15, 2015USD ($)
Adjustments for New Accounting Principle, Early Adoption [Member] | March 31, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Increase (Decrease) in Earnings Per Share, Basic and Diluted	0
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 54,313
Effective Income Tax Rate Reconciliation, Percent	(2.50%)
Adjustments for New Accounting Principle, Early Adoption [Member] | December 31, 2015 [Member] | Accounting Standards Update 2016-09 [Member]
Increase (Decrease) in Earnings Per Share, Basic and Diluted	0.01
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 104,134
Effective Income Tax Rate Reconciliation, Percent	(5.20%)
Adjustments for New Accounting Principle, Early Adoption [Member] | June 30, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Increase (Decrease) in Earnings Per Share, Basic and Diluted	0.01
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 79,640
Effective Income Tax Rate Reconciliation, Percent	(2.30%)
Adjustments for New Accounting Principle, Early Adoption [Member] | Accounting Standards Update 2016-09 [Member]
Increase (Decrease) in Earnings Per Share, Basic and Diluted		0.05
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 437,096	$ 675,183
Effective Income Tax Rate Reconciliation, Percent	16.30%	26.40%
Increase (Decrease) in Effective Income Tax Rate Reconciliation, Percent	13.70%	6.20%
Increase (Decrease) in Earnings Per Share, Basic	0.03
Increase (Decrease) in Earnings Per Share, Diluted	0.04
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Three Months Ended December 31, 2015 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment	$ 348,000
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Six Months Ended March 31, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment	741,000
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Nine Months Ended June 30, 2016 [Member] | Accounting Standards Update 2016-09 [Member]
Prior Period Reclassification Adjustment	1,786,000
Reclassification of Excess Tax Benefits Related to Stock-based Employee Awards from Financing Activities to Operating Activities [Member] | Accounting Standards Update 2016-09 [Member]
Cumulative Effect on Retained Earnings, Net of Tax	1,864,980
Domestic Tax Authority [Member]
Operating Loss Carryforwards	0	$ 0
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Expired and Utilized [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(259,000)
State and Local Jurisdiction [Member] | Valuation Allowance, Operating Loss Carryforwards, Higher Expected NOL Utilization [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(78,000)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	9,283,000	9,283,000
Operating Loss Carryforwards, Valuation Allowance	322,000	322,000			$ 659,000
Unrecognized Tax Benefits	0	0	$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense		$ 0	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Percent		26.00%	35.00%	37.00%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(337,000)
Income Taxes Receivable, Current	$ 643,000	$ 643,000	$ 48,000

Note D - Income Taxes - Valuati

Note D - Income Taxes - Valuation Allowance Activity (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Balance at Beginning of Year	$ 658,808	$ 847,826	$ 975,258
Income Tax Benefit	(78,044)	(53,836)
Reversal for State NOL Expiration and Utilization	(258,360)	(135,182)	(127,432)
Balance at End of Year	$ 322,404	$ 658,808	$ 847,826

Note D - Income Taxes - Signifi

Note D - Income Taxes - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Short Term [Member]
Inventories		$ 309,791
Accrued expenses and reserves		261,452
Prepaid expenses		(42,304)
Net operating loss carry forwards and credits		652,533
Long-term [Member]
Inventories	388,292
Accrued expenses and reserves	312,227	25,887
Prepaid expenses	(44,511)
Net operating loss carry forwards and credits	702,113	938,168
Intangibles	(67,450)	(39,819)
Property and equipment depreciation	(815,374)	(726,035)
Stock-based compensation	221,905	49,926
Goodwill	(786,577)	(706,779)
		1,181,472
Valuation allowance		(34,573)
Net current deferred tax asset		1,146,899
	(89,375)	(458,652)
Valuation allowance	(322,404)	(624,235)
Net long-term deferred tax liability	$ (411,779)	$ (1,082,887)

Note D - Income Taxes - Reconci

Note D - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Federal statutory rate	34.00%	34.00%	34.00%
State income taxes	1.00%	1.00%	1.00%
Permanent differences		1.00%	2.00%
Change in valuation allowance	(3.00%)	(3.00%)	(1.00%)
Expiration of state NOL’s	(2.00%)	(2.00%)	(1.00%)
Research and development credits	1.00%
Excess tax benefits from stock-based compensation (adoption of ASU 2016-09)	(7.00%)
Tax rate	26.00%	35.00%	37.00%

Note D - Income Taxes - Income

Note D - Income Taxes - Income Tax Expense (Benefit) Components (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Current:
Federal	$ 428,638	$ 67,373	$ 115,049
State	106,623	65,820	46,303
	535,261	133,193	161,352
Deferred:
Federal	2,434,294	2,377,590	2,903,110
State	(93,523)	(35,545)	116,516
	2,340,771	2,342,045	3,019,626
Income tax expense	$ 2,876,032	$ 2,475,238	$ 3,180,978

Note E - Concentrations (Detail

Note E - Concentrations (Details Textual) - Accounts Receivable [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Customer A [Member]
Concentration Risk, Percentage	18.00%	14.00%
Customer B [Member]
Concentration Risk, Percentage	12.00%	17.00%

Note E - Concentrations - Custo

Note E - Concentrations - Customers Comprising 10% or More of Net Sales (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member]	12 Months Ended
	Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2014
Customer A [Member]
Concentration Risk, Percentage	21.00%		25.00%		19.00%
Customer B [Member]
Concentration Risk, Percentage	16.00%			[1]		[1]
Customer C [Member]
Concentration Risk, Percentage		[1]		[1]	21.00%
[1]	Less than 10%

Note F - Employee Benefit Plan

Note F - Employee Benefit Plan (Details Textual) - USD ($)	3 Months Ended	12 Months Ended			21 Months Ended
	Dec. 31, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2016
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%				100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%				3.00%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%				50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%				3.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount		$ 520,530	$ 460,868	$ 379,630